Tim Cook is one of the world’s top CEOs, but you wouldn’t know that by where he lays his head at night. The recently-appointed head of Apple, Inc. lives in a 2,400 square foot, relatively modest home in Palo Alto, California.

The four-bedroom condo boasts a tiny yard and small adjunct section of real estate in the back. Not much for a man that was recently awarded a $378 million stock incentive.

Cook has already cashed in more than $100 million in Apple stock, and he’s set to cash in a whopping $378 million stock bonus if he stays with Apple for the next 10 years. He made $900,000 in salary for 2011, and he purchased his Palo Alto condo for $1.9 million in 2010.

To put Cook’s dwelling into perspective, Steve Jobs lived in a 5,678 square-foot, 7-bedroom home with over half an acre of land. Jobs’s former house is estimated to be worth 2.6 million, and its location is a little more than a mile away from Cook’s home.

The Jobs residence in Palo Alto, California

Jobs was known for his quiet lifestyle. As a world-renowned billionaire, Jobs did not live in a gated community and was frequently seen walking around the neighborhood with his wife.

In the upcoming book Inside Apple by Fortune‘s Adam Lashinsky, Tim Cook said the following:

I like to be reminded of where I came from, and putting myself in modest surroundings helps me do that. Money is not a motivator for me.

Where are you getting your $900 million for 2011 figure from? Are you talking options that vest over the next decade?

al friede

in the words of ali g….”RESPECT!”

Gregintosh

$900,000 = 900 Thousand not 900 Million. Seems pretty reasonable.

Gregintosh

That’s all you really need if you think about. Once you get rid of all the junk you don’t use on a day to day to basis from your house, realize that most people don’t need more than a couple of normal rooms.

Rob Stevens

“The recently-appointed head of Apple Inc. lives in a … relatively-modest home in Palo Alto …”

“… he purchased his Palo Alto condo for $1.9 million in 2010.”

“To put Cook’s dwelling into perspective, Steve Jobs lived in a 5,678 square-foot, 7-bedroom home with over half an acre of land. Jobs’ former house is estimated to be worth 2.6 million, and its location is a little more than a mile away from Cook’s home.”

Sounds to me (and by your own words), that Cook is living in EXACTLY the kind of place you’d expect the CEO to be living. In a comparably priced home (arguably overpriced compared to Jobs’ home) very close by. Sure, it’s not as big, but it was still pretty expensive. So what was the point of this article?

Bruce Lloyd

If money isn’t a motivator, why the 340$ million in stocks if he stays at Apple for ten years?

I must point out Steve’s much larger abode housed five people: Steve, his wife, and their three children. As far as I know, Mr. Cook lives by himself, is unmarried, and childless. Both homes are near Filoli, a house that shows how real rich people live (I particularly like the plaques to each head butler in the kitchen’s walk in silver vault). Frankly, if I had Steve’s $7 billion, my house would look closer to Filoli than what Steve actually owned.

James T

It’s all location of the home. Our home is newer and a bit larger than Tims, double the land, etc and cost 1/6th the price.

Outside of DFW vs Palo Alto is a huge difference.

I’m sure Tim could have a much larger home but …. why?

sir1jaguar

Apple founders and ceo’s combined money still cant reach the money of mark zuckerberg or any other billionaires around the world…

Lots of people around the world has that kind of money but they are not as popular as apple – thieves (stealer, copier and buyer of other technology and call it their own)

Anthony

Why not? if money was the motivator at apple we would not have such quality products. Money comes from success apple is a success.

AbeEstrada

With that salary of course money is not a motivator.

About the author

Alex Heath is a senior writer at Cult of Mac and co-host of the CultCast. He has been quoted by the likes of the BBC, KRON 4 News, and books like "ICONIC: A Photographic Tribute to Apple Innovation." If you want to pitch a story, share a tip, or just get in touch, additional contact information is available on his personal site. Twitter always works too.

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